Clearly it has no roots, so it has no irreducible linear or cubic factors. The only irreducible degree $1$ polynomial over $\Bbb F_2$ is $x^2+x+1$, so the only possible quadratic factorization is as $(x^2+x+1)^2=x^4+x^2+1$ which clearly is not your polynomial. Hence it is irreducible. This means the degree of the extension is $4$. Eisenstein is a criterion for irreducibility over the rationals though, it doesn't apply in $\Bbb F_2$
If you are worried about negative powers, then let's reformulate this as $[\Bbb F[\alpha]:\Bbb F]$ which is clearly a vector space of degree $4$ over $\Bbb F_2$. But then we know that $\Bbb F_2[\alpha]\cong \Bbb F_2[x]/(x^4+x+1)$ by the map
$$\begin{cases} \Bbb F_2[x]\to \Bbb F_2[\alpha]\\ x\mapsto \alpha\end{cases}$$
The map is clearly surjective, and by definition of the minimal polynomial and the fact that $\Bbb F_2[x]$ is a PID, we see the kernel is exactly $(x^4+x+1)$. But then the first isomorphism theorem for rings says that $\Bbb F_2[\alpha]\cong \Bbb F_2[x]/(x^4+x+1)$ as desired. Since the polynomial is generated by an irreducible in a PID, it is a maximal ideal, so the quotient $\Bbb F_2[\alpha]$ is a field. But since $\Bbb F_2(\alpha)$ is the smallest field containing $\alpha$, it must be that $\Bbb F_2(\alpha)\subseteq\Bbb F_2[\alpha]$. The inclusion in the other direction is trivial, hence the dimensions are equal.
For your second question, note that $p(x^{-1})=x^{-4}+x^{-1}+1$ is something which is zero when you put in $\alpha^{-1}$, so if you multiply it by $x^4$ you get
$$x^4p(x^{-1})=1+x^3+x^4$$
plugging in $\alpha^{-1}$ we get $\alpha^{-4}\cdot p(\alpha) = 0$, so this is the minimal polynomial for $\alpha^{-1}$, since you can get irreducibility from the same things we said for $\alpha$, namely that there are no roots, and it is not equal to $x^4+x^2+1$.